Company Registration No. 08998953 (England and Wales)
ACL International Coordination Limited
Financial statements
for the year ended 30 September 2023
Pages for filing with the registrar
ACL International Coordination Limited
Company information
Directors
Johanna Clarke
Valerie Gordon-Walker
Lesley Cowley
David Lawrence
Neil Garwood
Secretary
Johanna Clarke
Company number
08998953
Registered office
Rourke House
Kingsbury Crescent
Staines-upon-Thames
TW18 3BA
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
ACL International Coordination Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
ACL International Coordination Limited
Statement of financial position
As at 30 September 2023
30 September 2023
1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
659,862
631,685
Cash at bank and in hand
549,335
248,150
1,209,197
879,835
Creditors: amounts falling due within one year
4
(531,685)
(396,073)
Net current assets
677,512
483,762
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
677,412
483,662
Total equity
677,512
483,762
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 1 February 2024 and are signed on its behalf by:
Neil Garwood
Director
Company Registration No. 08998953
ACL International Coordination Limited
Notes to the financial statements
For the year ended 30 September 2023
2
1
Accounting policies
Company information
ACL International Coordination Limited is a private company limited by shares incorporated in England and Wales. The registered office is Rourke House, Kingsbury Crescent, Staines-upon-Thames, TW18 3BA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
The turnover shown in the profit and loss account represents amounts receivable during the period, exclusive of Value Added Tax.
Turnover is attributable to contributions from airport operators for data collection, schedules facilitation and coordination services, training and consultancy activities, the sale of access to the online coordination system, subscriptions from member airlines and the sale of schedule data.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
ACL International Coordination Limited
Notes to the financial statements (continued)
For the year ended 30 September 2023
1
Accounting policies (continued)
3
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Taxation
The tax expense represents exclusively the tax currently payable without any provision for deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
ACL International Coordination Limited
Notes to the financial statements (continued)
For the year ended 30 September 2023
1
Accounting policies (continued)
4
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.10
Net investment in branch
For monetary items identified as a long-term investment in overseas branches which report in a foreign currency, where exchange differences arise on consolidation, these are recognised in the other comprehensive income and accumulated in equity.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 13 (2022 - 11).
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
351,950
210,179
Amounts owed by group undertakings
159,131
281,516
Other debtors
148,781
139,990
659,862
631,685
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
11,813
6,869
Corporation tax
48,178
27,030
Other taxation and social security
27,325
23,808
Other creditors
444,369
338,366
531,685
396,073
5
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
Each share is entitled to one vote in any circumstances, equal share in dividend payments or any other distribution, including a distribution arising from a winding up of the company.
ACL International Coordination Limited
Notes to the financial statements (continued)
For the year ended 30 September 2023
5
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Andrew Watkinson.
The auditor was Saffery LLP.
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
Within one year
8,439
8,161
8
Parent company
The immediate and ultimate parent company is Airport Coordination Limited, a company incorporated in England and Wales. The ultimate controlling party is considered to be the members of Airport Coordination Limited, as a body.
The parent company of both the largest and smallest group to include the entity is Airport Coordination Limited. These consolidated financial statements are available from its registered office: Rourke House, Kingsbury Crescent, Staines-Upon-Thames, England, TW18 3BA.